Stock Buyback Program Announced by Curbline Properties (NYSE:CURB) Board

Key Points

• Curbline Properties' board has authorized a stock buyback program worth $250 million, allowing the company to repurchase up to 10.6% of its shares.
• The company reported a 47% increase in quarterly revenue year-over-year, with earnings per share at $0.26, surpassing estimates.
• A quarterly dividend of $0.16 per share has been declared, providing an annual yield of 2.8% for investors.

Curbline Properties (NYSE:CURB - Get Free Report) declared that its board has authorized a stock repurchase plan on Thursday, October 2nd, RTT News reports. The company plans to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Curbline Properties Stock Performance

Shares of Curbline Properties stock traded up $0.36 during trading hours on Thursday, reaching $22.79. The company's stock had a trading volume of 618,533 shares, compared to its average volume of 528,249. The firm has a 50 day moving average price of $22.47 and a 200-day moving average price of $22.82. Curbline Properties has a one year low of $20.91 and a one year high of $25.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.40 and a current ratio of 13.40.

Curbline Properties (NYSE:CURB - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $41.10 million during the quarter, compared to analysts' expectations of $37.67 million. Curbline Properties had a net margin of 11.74% and a return on equity of 1.01%. The firm's quarterly revenue was up 47.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. Curbline Properties has set its FY 2025 guidance at 0.990-1.020 EPS. On average, equities research analysts anticipate that Curbline Properties will post 1 EPS for the current fiscal year.

Curbline Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.8%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. LADENBURG THALM/SH SH started coverage on Curbline Properties in a report on Tuesday, September 9th. They set a "neutral" rating and a $25.00 price objective on the stock. Morgan Stanley raised their target price on Curbline Properties from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $25.86.

Curbline Properties Company Profile

Curbline Properties Corp. is a real estate investment trust which is an owner and manager of convenience shopping centers positioned on the curbline of well-trafficked intersections and major vehicular corridors in suburban. Curbline Properties Corp. is based in NEW YORK.

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